Elion Energy released its 2011 quarterly report on the 20th. The company achieved a net profit of 118.089 million yuan in the first quarter, an increase of 626.07% year-on-year, and a basic earnings per share of 0.01 yuan. Haohua Energy achieved a net profit of 339 million yuan in the first quarter, an increase of 94.47% year-on-year.
Yili Energy stated that the growth in performance was mainly due to the increase in product sales and price increase, while Minhua Energy stated that the subsidiary company, Minhua Clean Coal Co., Ltd. entered the operation period, which was the main reason for the increase in operating income of the company in the first quarter. It is understood that Yanhua Clean Coal is located in Ordos, Inner Mongolia. Its mine design scale is up to 6 million tons per year and its long-term production capacity is 10 million tons per year.
Compared with the surge in net profit of the two companies mentioned above, the net profit for the first quarter of coal gasification released on the same day was 43.8755 million yuan, a year-on-year decrease of 44.53%, and the net cash flow from operating activities was -1.08 billion, a decrease of 281.15% year-on-year.
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